IEA Head Says Europe Made Major Mistake on Electrification

Fatih Birol, head of the International Energy Agency, said Europe made a major mistake by failing to end its reliance on imported fossil fuels quickly enough since the 2022 energy crunch. com reported that Birol pointed to the EU's electrification rate of roughly 23 percent as a factor holding back competitiveness and economic sovereignty.

Birol stated that Europe must electrify its economy faster after facing two energy crises in less than five years.

He said Europe should copy countries including China, Japan and South Korea, which have electrification rates of more than 30 percent. " The European Commission plans to unveil measures next week requiring countries to lower taxes on electricity and offer support for households to adopt heat pumps, electric cars and other green technologies.

The plans include mandating that electricity be taxed less heavily than fossil fuels. Dan Jorgenson is the EU's energy commissioner.